U.S. Dollar Will Lose its Reserve Status, “We Fumbled this Big Time”: Charles Payne

“The Fed is on the verge of making a monumental mistake,” warns Charles Payne, host of Fox's "Making Money with Charles Payne.” Speaking with Daniela Cambone, Payne criticizes the Federal Reserve's decision to hold interest rates steady at a 23-year high, arguing it will not benefit the economy. He also lashes out against the Fed's “data-dependency” approach, questioning, “What data exactly are you looking at? Are you looking at late payments? Are you looking at bankruptcies?”
On recent reports of Saudi Arabia breaking away from the petrodollar system, Payne acknowledges that de-dollarization is happening. "We're not doing the things that come with the sort of fiduciary responsibility of having the world's premier currency," he says. He also advises people to stay flexible about the city where they buy their first home and to start saving. Watch the insightful interview now to learn more about Payne's views.

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00:00 De-dollarization
5:48 HSBC statement about the US dollar
7:21 Fed rate cuts
10:58 Job market
13:50 People can’t retire
16:52 Housing purchasing
20:44 Stock market
23:39 Investing in precious metals
24:58 Future of America

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